London · Delayed Price · Currency is GBP · Price in GBX Liontrust Asset Management Earnings Call Transcripts
Fiscal Year 2026
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Strategic diversification and cost efficiencies have reduced net outflows and improved business mix, despite lower revenues and ongoing market challenges. The River Global acquisition broadens investment capabilities, while strong cost control and a sustainable capital policy support financial strength.
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Adjusted profit was just under GBP 16 million, with AUM down 17% and gross profit down 22% year-over-year. Despite challenging flows, new mandates and strong international interest support optimism, and a GBP 10 million share buyback reflects management’s confidence.
Fiscal Year 2025
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FY2025 revenue was £157m and adjusted profit £48.3m as AUM ended at £22.6bn. Management introduced a 50% minimum dividend payout and expects ~£6m of annualized transformation savings, while seeing a more favorable backdrop for active management.
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Revenue was £81m and adjusted PBT £25.8m, with operating margin just under 31%; AUM was just over £26bn. Priorities include £4.5m annualized savings, a 72p FY dividend target, and investment in distribution and the operating platform.
Fiscal Year 2024
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FY March 2024 revenue fell with AUM, but the 62 bps revenue margin was nearly stable and the 35.5% operating margin remained strong. Management cited a slowdown in outflows, a maintained 72p dividend and improving opportunities in UK, European and global products.